Bitcoin price returns to $22K despite 'least volatile' US CPI reaction
Five-day highs for BTC price come within a narrow trading range as U.S. inflation broadly conforms to expectations. Bitcoin (BTC) ticked above $22,000 after the Feb. 14 Wall Street open as crucial United States inflation data delivered “mixed” results. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price hits 5-day highs on CPI Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tested multi-week lows twice on hourly timeframes before reversing upward. The pair saw flash volatility in line with predictions as January’s Consumer Price Index (CPI) numbers hit, something repeated at the start of trading on Wall Street. Still within a tight trading range, however, Bitcoin’s reaction was in fact fairly muted, with up and down moves only involving several hundred dollars at a time. That reflected the CPI data itself, which broadly conformed to market expectations. A moderate exception was year-on-year, which ran “hot” at 0.2% above the envisaged 6.2%....